National Bank of Canada FI Trims Position in Sysco Co. (NYSE:SYY)

by · The Cerbat Gem

National Bank of Canada FI decreased its position in shares of Sysco Co. (NYSE:SYY – Free Report) by 6.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 280,593 shares of the company’s stock after selling 19,951 shares during the period. National Bank of Canada FI’s holdings in Sysco were worth $21,459,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. HighPoint Advisor Group LLC raised its holdings in Sysco by 2.1% during the fourth quarter. HighPoint Advisor Group LLC now owns 10,096 shares of the company’s stock valued at $712,000 after acquiring an additional 210 shares during the period. Franklin Resources Inc. grew its position in shares of Sysco by 12.5% during the fourth quarter. Franklin Resources Inc. now owns 643,784 shares of the company’s stock worth $49,224,000 after purchasing an additional 71,626 shares in the last quarter. B. Metzler seel. Sohn & Co. AG raised its stake in Sysco by 16.8% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 65,022 shares of the company’s stock valued at $4,972,000 after purchasing an additional 9,344 shares during the period. Boston Research & Management Inc. lifted its holdings in Sysco by 4.6% in the 4th quarter. Boston Research & Management Inc. now owns 66,529 shares of the company’s stock worth $5,086,000 after purchasing an additional 2,949 shares in the last quarter. Finally, Summit Financial LLC boosted its stake in Sysco by 166.6% in the 4th quarter. Summit Financial LLC now owns 8,788 shares of the company’s stock worth $672,000 after purchasing an additional 5,492 shares during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.0 %

SYY stock opened at $75.27 on Friday. The firm’s fifty day simple moving average is $73.14 and its two-hundred day simple moving average is $75.10. The stock has a market capitalization of $36.82 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.23.

Sysco (NYSE:SYY – Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the company posted $0.89 EPS. As a group, analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is currently 52.44%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Melius began coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. UBS Group cut their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Morgan Stanley decreased their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Get Our Latest Stock Analysis on Sysco

About Sysco

(Free Report)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.

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